.EditorialThis content has actually been chosen, made and revised by the Finextra editorial crew based upon its relevance and also rate of interest to our area.Depending on to a spokesperson for the Vilnius District Court, the insolvency phone call was actually produced after analyzing the company’s monetary data and also locating that kevin was “unable to satisfy its own economic obligations on time”.A bankruptcy case has actually levelled due to the court and IS Group has actually been actually designated as the bankruptcy supervisor..Kevin has actually due to the fact that introduced that it prepares to appeal the bankruptcy decision.The court choice notes a remarkable fall for the paytech company which was once flagged as the fastetst expanding fintech in Central and also Eastern Europe.Kevin had actually also brought up $65m coming from its different capitalists, including Accel and Eurazeo.The first signs of financial problem were seen in February when a file from on the web information site Sorted stated that kevin had actually fallen short to pay out staff for two months – claims which were actually quashed due to the startup..And then in July, the Lithuanian reserve bank disallowed the company from tackling any kind of new customers after developing impatient at the company’s failing to submit its own yearly files punctually. .